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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (5420)5/27/1999 8:55:00 AM
From: Ian@SI  Read Replies (2) of 15132
 
Justa,

This sounds like another developing urban myth to replace the other one that creation of credit was too easy and was leading to the consumer spending boom.

There's no shortage of talking heads without facts that are willing to spout half thought out hypotheses without first making any attempt whatsoever to see if there's any underlying support for the pronouncement.

Pot laws must be completely unenforced amongst Economic Excuse Talking Heads. <g>

... in the sense only that the wealth effect has causes more consumer spending.

Perhaps, it's really the poverty effect. Once one is so far in debt, what's another 10K or so? ;-)

Ian.
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